Aussies, beware! Cybercriminals are getting more sophisticated, and it's estimated that we lost a record-breaking amount of money to scams this year.
The experts at IDCARE, the national support centre for victims of identity theft, are sounding the alarm and warning us to be on high alert.
The Scary Stats
In 2024, thousands of Aussies were fleeced of a staggering $584 million, with the average person losing a whopping $35,400. But here's the thing: most people had no idea how their information was compromised, and the number of cases attributed to "unknown sources" increased significantly.
The Top 6 Scams to Look Out for in 2025
To help you protect yourself, IDCARE has identified the top six emerging scam trends to watch out for next year. From targeting your superannuation to hijacking your phone number, these scams can cause financial devastation.
1. myGov Scams: Don't Let Cybercriminals Steal Your Login Details
Cybercriminals are increasingly targeting Aussies' myGov accounts, trying to get their hands on your login details. Why? Because myGov is the gateway to a range of government services like Medicare, Centrelink, and the Australian Taxation Office (ATO). Once compromised, these accounts can be used to redirect funds into fraudulent bank accounts, resulting in significant financial losses.
2. Superannuation Scams: Don't Let Fraudsters Drain Your Nest Egg
Superannuation scams are expected to continue into 2025, following an increase this year. Cybercriminals are exploiting vulnerabilities in Commonwealth Government services to access victims' superannuation accounts. They're then transferring funds to self-managed superannuation funds or applying for early release through hardship claims.
3. Online Shopping Scams: Be Cautious This Christmas
Online shopping scams surged this year, making up 18% of all cases reported to IDCARE. Scammers are targeting Aussies through fake social media ads, setting up fake profiles and websites that imitate real brands. Be wary of URLs and page designs that look too good to be true, and always check for fake reviews.
4. Investment Scams: Don't Fall for Promises of Big Returns
Investment scams caused the highest losses this year, totalling $259 million, with the average person losing $93,000. Cybercriminals are promising big returns to steal money from unsuspecting victims. They may impersonate legitimate investment or finance companies, creating fake data to make you believe your investment is growing.
5. Sextortion Scams: Don't Fall Prey to Blackmail
Sextortion scams, where someone threatens to share nude or sexual content unless you pay them money or give in to their demands, have increased this year. Blackmailers are targeting people through online dating sites, social media, and gaming apps.
6. Phone Porting Scams: Don't Let Scammers Hijack Your Mobile Number
Phone porting scams, where scammers hijack a person's mobile number to gain control of accounts, have doubled in frequency this year. The average person lost $23,000 to this scam. Scammers are leveraging credentials from data breaches or phishing scams to exploit telco verification weaknesses.
Remember, behind each statistic is a person who never thought they'd be scammed – until they were. Stay vigilant, stay informed, and protect yourself from these devastating scams in 2025.
